Drugs firm boosts revenues by €5m

MERRION Pharmaceuticals has slashed its annual losses and boosted its revenues by €5 million.

The Dublin-headquartered company, which recently significantly upgraded its R&D capabilities here, has reported a net loss of €1.63 million for 2009, a major step towards profitability.

This figure was down from a net loss of just over €5m in 2008. Last year also saw the company’s revenues soar by 373% to €6.33m; up from the €1.34m in the previous year.